German experts urge UK EFTA return

<<UPDATED 23/06/2017 with official translation link>>

As reported this week in German newspaper Frankfurter Allgemeine Zeitung,[i] Economic experts from the Federal Government’s Federal Ministry of Economic Affairs have written a letter[ii] to the German Minister for Economic Affairs Brigitte Zypries, warning about the potentially serious consequences of Brexit.

According to the report, the letter (dated 28th April 2017) says that the process of Brexit poses “risks of unnecessary damage to economic relations”.

The letter (which we have translated to the best of our abilities) makes some interesting suggestions and recommendations.

It states that the 2 year Article 50 period will be too short to conclude a comprehensive Free Trade Agreement and so the period should either be extended, or the UK should rejoin EFTA (The European Free Trade Association) as an interim step or as part of a more permanent solution .